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Could you give your lessons to Congress, especially the last paragraph. Another useful tool in retirement is a ROTH IRA it grows tax free on money that has already been taxed. So until the repeal it the money can be withdrawn tax free after you reach 59.5. A standard 401K does have a gotcha when you reach 70.5 you must take a minimum distribution which is based on a formula according to the value at the start of the year.One cannot be a millionaire making a slave wage like $20 an hour. Not possible.
Sure they can. In fact, you can end up a millionaire making half that.
Lets say you don't go to college, and you get married, and start working at Walmart at age 20.
So lets do the math.
$10 an hour, is of course $400 a week. Let's say you put just 10% into stock mutual fund that gets about a 10% rate of return. I personally invest in 3 mutual funds that do 12%, 13% and 15% respectively. So 10% return on investment isn't difficult.
View attachment 441460
If you work consistently at Walmart for just $10/hour, from age 20 to 67, at age 67, you would retire with $2 Million dollars.
Of course this graph showing how much money you would have at retirement is completely inaccurate for two specific reasons.
Reason 1: Walmart has a 401K stock matching program, which matches dollar for dollar, the first 6% if your investment.
That means if you invested 10%, you would end up putting in not $40 a week, but rather $64 a week, or $256 a month.
You would end up not with $2 Million, but more like $3.3 Million.
Reason 2: Walmart specifically has a Walmart Employee stock purchase program, where you can buy Walmart stock at a very low price.
So when you add that benefit into the already massive $3 Million plus from your 401K... yes you can very easily end up a millionaire working for low wages.
Again... it's all in spending less money, than you make. It's that simple.
Cancel our debt to China as partial payment for the pandemic.
Right.... Um... Ok. Quick math. So as of July 2020, China had roughly $1 Trillion in US bonds.
The US national debt is $28 Trillion.
So, not going to solve our problem, is it?
Further, I learned back when I first moved out, that it didn't matter if I paid off a debt, if I was living in a way that racked up debt.
The only way to not have a debt problem, is to live on less than you make in income. Spend less... than you collect in income.
Similarly, as long as the US public wants to spend more than the government can collect in revenue, canceling debt will cause tons of problems, and we'll end up in debt anyway.
We need to cut spending. Cut welfare, unemployment, SNAP, housing, cut education, cut all entitlements.
If we don't do that, it doesn't matter if you cancel debt. You keep spending more than you collect, you end up with debt. That's how it works.
Lastly, the bond market is critical to borrowing money. The only reason anyone, anywhere, is willing to buy US bonds, is because they believe the US government will pay back the loan.
You cancel those bonds, and everyone everywhere in the world, will stop buying US bonds. They are not going to distinguish US bonds, from other US bonds, because they are all US bonds.
It would be like you and your neighbor both buying a health insurance policy with the same company. You find out the following week, that your neighbor got sick, and the company just decided to not honor the policy. Are you going to keep your policy with that company? Well yeah, that was him, not you... so you are safe? No, you would cancel that policy and buy from someone else.
Same thing in with bonds. No one is going to buy those bonds knowing we won't pay, if we decide to blame you for a virus.
If we can't borrow money, then Social Security or Medicare will be cut dramatically in a month.
Or... we would have to get an international bailout. Do you want to get bailed out by Europe? Because that's what happened with Greece. They went bankrupt, needed an international bailout, and suddenly you had people all over the EU, dictating Greek public policy. You want Europe or others dictating US policy, because we have to have a bailout, because we defaulted on our bonds like Greece did?
Very bad idea. Very bad. Your idea might well actually cause civil war, and a break up of the United States.
You don't know that. He could have hired Americans, and had it be so expensive, that he lost money.LOL...He probably did that because he was a businessman and high corporate taxes ( paid always bu consumers) It's not like high corporate taxes cause Fortune 500 CEA's to drive Chevy's or their kids to have to wait in the long line at Amusement parks. No the consumer pays them. But businesses do leave the country because of them. When he got in office he lowered those corporate taxex and started to bring manufacturing back and caused a booming economy that for once reached doen the working man, many of thos poor blacks.
As if Trump ever needed to launch a clothing line anyway.
Bottom line. He could have hired Americans....he hired Chinese folks. He is no friend to America or it's textile workers.
No one is going to do that. No one is going to hire US labor, if the cost is too high, and you don't know the numbers on that. You are making an assumption.
Which again, is why Trump was trying to change the system to make hiring US labor more profitable. But that means not being greed and envy motivated, and trying to regulate and tax the crap out of US companies. Something left does not seem to have the mental capacity to understand.
American Apparel made products in Downtown Los Angeles while Trump was having stuff made in China.
American Apparel
Discover American Apparel Wholesale t-shirts and other blank American Apparel for your iconic premium basics with innovative fabrics, sweatshop free styles.americanapparel.com
As always, your post is crap.
www.independent.co.uk
web.archive.org
www.theguardian.com
Could you give your lessons to Congress, especially the last paragraph. Another useful tool in retirement is a ROTH IRA it grows tax free on money that has already been taxed. So until the repeal it the money can be withdrawn tax free after you reach 59.5. A standard 401K does have a gotcha when you reach 70.5 you must take a minimum distribution which is based on a formula according to the value at the start of the year.One cannot be a millionaire making a slave wage like $20 an hour. Not possible.
Sure they can. In fact, you can end up a millionaire making half that.
Lets say you don't go to college, and you get married, and start working at Walmart at age 20.
So lets do the math.
$10 an hour, is of course $400 a week. Let's say you put just 10% into stock mutual fund that gets about a 10% rate of return. I personally invest in 3 mutual funds that do 12%, 13% and 15% respectively. So 10% return on investment isn't difficult.
View attachment 441460
If you work consistently at Walmart for just $10/hour, from age 20 to 67, at age 67, you would retire with $2 Million dollars.
Of course this graph showing how much money you would have at retirement is completely inaccurate for two specific reasons.
Reason 1: Walmart has a 401K stock matching program, which matches dollar for dollar, the first 6% if your investment.
That means if you invested 10%, you would end up putting in not $40 a week, but rather $64 a week, or $256 a month.
You would end up not with $2 Million, but more like $3.3 Million.
Reason 2: Walmart specifically has a Walmart Employee stock purchase program, where you can buy Walmart stock at a very low price.
So when you add that benefit into the already massive $3 Million plus from your 401K... yes you can very easily end up a millionaire working for low wages.
Again... it's all in spending less money, than you make. It's that simple.
Cancel our debt to China as partial payment for the pandemic.
Right.... Um... Ok. Quick math. So as of July 2020, China had roughly $1 Trillion in US bonds.
The US national debt is $28 Trillion.
So, not going to solve our problem, is it?
Further, I learned back when I first moved out, that it didn't matter if I paid off a debt, if I was living in a way that racked up debt.
The only way to not have a debt problem, is to live on less than you make in income. Spend less... than you collect in income.
Similarly, as long as the US public wants to spend more than the government can collect in revenue, canceling debt will cause tons of problems, and we'll end up in debt anyway.
We need to cut spending. Cut welfare, unemployment, SNAP, housing, cut education, cut all entitlements.
If we don't do that, it doesn't matter if you cancel debt. You keep spending more than you collect, you end up with debt. That's how it works.
Lastly, the bond market is critical to borrowing money. The only reason anyone, anywhere, is willing to buy US bonds, is because they believe the US government will pay back the loan.
You cancel those bonds, and everyone everywhere in the world, will stop buying US bonds. They are not going to distinguish US bonds, from other US bonds, because they are all US bonds.
It would be like you and your neighbor both buying a health insurance policy with the same company. You find out the following week, that your neighbor got sick, and the company just decided to not honor the policy. Are you going to keep your policy with that company? Well yeah, that was him, not you... so you are safe? No, you would cancel that policy and buy from someone else.
Same thing in with bonds. No one is going to buy those bonds knowing we won't pay, if we decide to blame you for a virus.
If we can't borrow money, then Social Security or Medicare will be cut dramatically in a month.
Or... we would have to get an international bailout. Do you want to get bailed out by Europe? Because that's what happened with Greece. They went bankrupt, needed an international bailout, and suddenly you had people all over the EU, dictating Greek public policy. You want Europe or others dictating US policy, because we have to have a bailout, because we defaulted on our bonds like Greece did?
Very bad idea. Very bad. Your idea might well actually cause civil war, and a break up of the United States.
A Liberal, a conservative and an CEO walk into a room. The CEO puts 10 dollars on the table. The conservative takes 9 and gives the CEO 4 dollars back for a "political contribution" He pockets the remaining $5 telling while telling the African-American as they pick up the last dollar, "you can put the CEO's golf clubs in his truck now".
Hitler was a socialist and Trump is anti socialist who tried to save our country from the race hos like Pelosi, AOC, and the HO harris....The quick and easy solution is in forcing the very wealthy to pay the debt.
Had they been paying their fair share all along the situation wouldn't even exist.
Trump was born of income inequality in America that had resulted in poverty for the working class.
Hitler was born out of the people's poverty.
In both cases a minority was blamed and the murders could begin.
Has America been saved from the problem by the election of Biden and the ousting of Trump.
No! America's problems are much deeper than anything the two main rightist parties can fix.
Trump was just a symptom of the much greater problem and that will now start to become obvious with the fall of Trump's evil regime.
Cancel our debt to China as partial payment for the pandemic.
Right.... Um... Ok. Quick math. So as of July 2020, China had roughly $1 Trillion in US bonds.
The US national debt is $28 Trillion.
So, not going to solve our problem, is it?
Further, I learned back when I first moved out, that it didn't matter if I paid off a debt, if I was living in a way that racked up debt.
The only way to not have a debt problem, is to live on less than you make in income. Spend less... than you collect in income.
Similarly, as long as the US public wants to spend more than the government can collect in revenue, canceling debt will cause tons of problems, and we'll end up in debt anyway.
We need to cut spending. Cut welfare, unemployment, SNAP, housing, cut education, cut all entitlements.
If we don't do that, it doesn't matter if you cancel debt. You keep spending more than you collect, you end up with debt. That's how it works.
Lastly, the bond market is critical to borrowing money. The only reason anyone, anywhere, is willing to buy US bonds, is because they believe the US government will pay back the loan.
You cancel those bonds, and everyone everywhere in the world, will stop buying US bonds. They are not going to distinguish US bonds, from other US bonds, because they are all US bonds.
It would be like you and your neighbor both buying a health insurance policy with the same company. You find out the following week, that your neighbor got sick, and the company just decided to not honor the policy. Are you going to keep your policy with that company? Well yeah, that was him, not you... so you are safe? No, you would cancel that policy and buy from someone else.
Same thing in with bonds. No one is going to buy those bonds knowing we won't pay, if we decide to blame you for a virus.
If we can't borrow money, then Social Security or Medicare will be cut dramatically in a month.
Or... we would have to get an international bailout. Do you want to get bailed out by Europe? Because that's what happened with Greece. They went bankrupt, needed an international bailout, and suddenly you had people all over the EU, dictating Greek public policy. You want Europe or others dictating US policy, because we have to have a bailout, because we defaulted on our bonds like Greece did?
Very bad idea. Very bad. Your idea might well actually cause civil war, and a break up of the United States.
A Liberal, a conservative and an CEO walk into a room. The CEO puts 10 dollars on the table. The conservative takes 9 and gives the CEO 4 dollars back for a "political contribution" He pockets the remaining $5 telling while telling the African-American as they pick up the last dollar, "you can put the CEO's golf clubs in his truck now".
The conservative would not take $9. They would earn it. So the rest of what you said doesn't even make sense.
Conservatives, by definition, believe in value of work. It's based on the protestant work ethic.
Protestant work ethic - Wikipedia
en.wikipedia.org
A conservative that believes in taking what others earned.... just simply isn't a conservative.
That would be like saying "A Vegan and a Cattle rancher walk into the room. The cattle rancher puts down a hamburger and the vegan eats it and says...." If the Vegan eats the hamburger, they are not a vegan.
Similarly, if the conservative takes someone else's money... they are not conservatives. If they earn the money, or if they sell you something for the money, then you might have a point. But conservatives don't take your money. Left-wingers do. Socialists do. Government does. But not conservatives. Doesn't happen.
That's just a fallacy.Cancel our debt to China as partial payment for the pandemic.
Right.... Um... Ok. Quick math. So as of July 2020, China had roughly $1 Trillion in US bonds.
The US national debt is $28 Trillion.
So, not going to solve our problem, is it?
Further, I learned back when I first moved out, that it didn't matter if I paid off a debt, if I was living in a way that racked up debt.
The only way to not have a debt problem, is to live on less than you make in income. Spend less... than you collect in income.
Similarly, as long as the US public wants to spend more than the government can collect in revenue, canceling debt will cause tons of problems, and we'll end up in debt anyway.
We need to cut spending. Cut welfare, unemployment, SNAP, housing, cut education, cut all entitlements.
If we don't do that, it doesn't matter if you cancel debt. You keep spending more than you collect, you end up with debt. That's how it works.
Lastly, the bond market is critical to borrowing money. The only reason anyone, anywhere, is willing to buy US bonds, is because they believe the US government will pay back the loan.
You cancel those bonds, and everyone everywhere in the world, will stop buying US bonds. They are not going to distinguish US bonds, from other US bonds, because they are all US bonds.
It would be like you and your neighbor both buying a health insurance policy with the same company. You find out the following week, that your neighbor got sick, and the company just decided to not honor the policy. Are you going to keep your policy with that company? Well yeah, that was him, not you... so you are safe? No, you would cancel that policy and buy from someone else.
Same thing in with bonds. No one is going to buy those bonds knowing we won't pay, if we decide to blame you for a virus.
If we can't borrow money, then Social Security or Medicare will be cut dramatically in a month.
Or... we would have to get an international bailout. Do you want to get bailed out by Europe? Because that's what happened with Greece. They went bankrupt, needed an international bailout, and suddenly you had people all over the EU, dictating Greek public policy. You want Europe or others dictating US policy, because we have to have a bailout, because we defaulted on our bonds like Greece did?
Very bad idea. Very bad. Your idea might well actually cause civil war, and a break up of the United States.
A Liberal, a conservative and an CEO walk into a room. The CEO puts 10 dollars on the table. The conservative takes 9 and gives the CEO 4 dollars back for a "political contribution" He pockets the remaining $5 telling while telling the African-American as they pick up the last dollar, "you can put the CEO's golf clubs in his truck now".
The conservative would not take $9. They would earn it. So the rest of what you said doesn't even make sense.
Conservatives, by definition, believe in value of work. It's based on the protestant work ethic.
Protestant work ethic - Wikipedia
A conservative that believes in taking what others earned.... just simply isn't a conservative.
That would be like saying "A Vegan and a Cattle rancher walk into the room. The cattle rancher puts down a hamburger and the vegan eats it and says...." If the Vegan eats the hamburger, they are not a vegan.
Similarly, if the conservative takes someone else's money... they are not conservatives. If they earn the money, or if they sell you something for the money, then you might have a point. But conservatives don't take your money. Left-wingers do. Socialists do. Government does. But not conservatives. Doesn't happen.
Cancel our debt to China as partial payment for the pandemic.
Right.... Um... Ok. Quick math. So as of July 2020, China had roughly $1 Trillion in US bonds.
The US national debt is $28 Trillion.
So, not going to solve our problem, is it?
Further, I learned back when I first moved out, that it didn't matter if I paid off a debt, if I was living in a way that racked up debt.
The only way to not have a debt problem, is to live on less than you make in income. Spend less... than you collect in income.
Similarly, as long as the US public wants to spend more than the government can collect in revenue, canceling debt will cause tons of problems, and we'll end up in debt anyway.
We need to cut spending. Cut welfare, unemployment, SNAP, housing, cut education, cut all entitlements.
If we don't do that, it doesn't matter if you cancel debt. You keep spending more than you collect, you end up with debt. That's how it works.
Lastly, the bond market is critical to borrowing money. The only reason anyone, anywhere, is willing to buy US bonds, is because they believe the US government will pay back the loan.
You cancel those bonds, and everyone everywhere in the world, will stop buying US bonds. They are not going to distinguish US bonds, from other US bonds, because they are all US bonds.
It would be like you and your neighbor both buying a health insurance policy with the same company. You find out the following week, that your neighbor got sick, and the company just decided to not honor the policy. Are you going to keep your policy with that company? Well yeah, that was him, not you... so you are safe? No, you would cancel that policy and buy from someone else.
Same thing in with bonds. No one is going to buy those bonds knowing we won't pay, if we decide to blame you for a virus.
If we can't borrow money, then Social Security or Medicare will be cut dramatically in a month.
Or... we would have to get an international bailout. Do you want to get bailed out by Europe? Because that's what happened with Greece. They went bankrupt, needed an international bailout, and suddenly you had people all over the EU, dictating Greek public policy. You want Europe or others dictating US policy, because we have to have a bailout, because we defaulted on our bonds like Greece did?
Very bad idea. Very bad. Your idea might well actually cause civil war, and a break up of the United States.What is this persons take home pay? Where do they live? Mom and Dad's house until they die. Never get married or have kids>One cannot be a millionaire making a slave wage like $20 an hour. Not possible.
Sure they can. In fact, you can end up a millionaire making half that.
Lets say you don't go to college, and you get married, and start working at Walmart at age 20.
So lets do the math.
$10 an hour, is of course $400 a week. Let's say you put just 10% into stock mutual fund that gets about a 10% rate of return. I personally invest in 3 mutual funds that do 12%, 13% and 15% respectively. So 10% return on investment isn't difficult.
View attachment 441460
If you work consistently at Walmart for just $10/hour, from age 20 to 67, at age 67, you would retire with $2 Million dollars.
Of course this graph showing how much money you would have at retirement is completely inaccurate for two specific reasons.
Reason 1: Walmart has a 401K stock matching program, which matches dollar for dollar, the first 6% if your investment.
That means if you invested 10%, you would end up putting in not $40 a week, but rather $64 a week, or $256 a month.
You would end up not with $2 Million, but more like $3.3 Million.
Reason 2: Walmart specifically has a Walmart Employee stock purchase program, where you can buy Walmart stock at a very low price.
So when you add that benefit into the already massive $3 Million plus from your 401K... yes you can very easily end up a millionaire working for low wages.
Again... it's all in spending less money, than you make. It's that simple.
Who lives on $300wk and becomes a $3.3 millionaire?
Nice fantasy land. Nobody from Pottersville gets rich.
You don't know that. He could have hired Americans, and had it be so expensive, that he lost money.LOL...He probably did that because he was a businessman and high corporate taxes ( paid always bu consumers) It's not like high corporate taxes cause Fortune 500 CEA's to drive Chevy's or their kids to have to wait in the long line at Amusement parks. No the consumer pays them. But businesses do leave the country because of them. When he got in office he lowered those corporate taxex and started to bring manufacturing back and caused a booming economy that for once reached doen the working man, many of thos poor blacks.
As if Trump ever needed to launch a clothing line anyway.
Bottom line. He could have hired Americans....he hired Chinese folks. He is no friend to America or it's textile workers.
No one is going to do that. No one is going to hire US labor, if the cost is too high, and you don't know the numbers on that. You are making an assumption.
Which again, is why Trump was trying to change the system to make hiring US labor more profitable. But that means not being greed and envy motivated, and trying to regulate and tax the crap out of US companies. Something left does not seem to have the mental capacity to understand.
American Apparel made products in Downtown Los Angeles while Trump was having stuff made in China.
American Apparel
Discover American Apparel Wholesale t-shirts and other blank American Apparel for your iconic premium basics with innovative fabrics, sweatshop free styles.
As always, your post is crap.
What are you smoking? Do you know anything at all about American Apparel?
American Apparel has filed for bankruptcy in the US
American Apparel had not made a profit since 2009
American Apparel had not made a profit since 2009.The retailer said the restructuring will slash debt by $165 million (£108.4 million) to $135 million by eliminating $200 million in bonds in return for equity in the revamped company.
American Apparel starts laying off 2,400 workers in Southern California
American Apparel began to lay off 2,400 workers in Southern California on Monday — kicking off its final chapter as the country’s largest garment maker.
Canadian clothing maker Gildan Activewear won an auction in bankruptcy court last week to buy the American Apparel brand and some manufacturing equipment for $88 million. The company will not assume American Apparel’s leases on its factories.
The new American Apparel: claims of 'ethically made' abroad clash with reality
The company was sold to Gildan and moved operations outside the US – now the idea the brand was based upon clashes with what workers actually experience
Under a page headlined “Sweatshop Free Stories” on American Apparel’s website is a video profile of a young Honduran man, Heber Lopez, a garment worker at one of the factories in San Antonio, Honduras responsible for producing the retailer’s clothing.
Candy.... That post you made, explains to me how left-wing politicians are able to dupe so many non-thinking lemmings into doing whatever they say.
You just posted a link to American Apparel, claiming they made clothing in downtown LA.
The reality is, American Apparel lost money for years on end, went bankrupt, sold off all their American factories, and all their clothing is made in Honduras and Nicaragua.
But you read a internet post, or the companies web site, that said "Ethical Sweatshop free".
Right? You just bought that, without thinking, without questioning?
You know those Trumpers that believed the election was stolen because Trump said so, without thinking, without questioning? You are no better. You are just like them. You just proved it, with that post.
Trump has filed for bankruptcy 6 times and you're in love with him....so this should make AA pretty attractive to you.
The bottom line is that Trump could have hired Americans...he hired Chinese people instead. He is no friend to the American worker.
You don't know that. He could have hired Americans, and had it be so expensive, that he lost money.LOL...He probably did that because he was a businessman and high corporate taxes ( paid always bu consumers) It's not like high corporate taxes cause Fortune 500 CEA's to drive Chevy's or their kids to have to wait in the long line at Amusement parks. No the consumer pays them. But businesses do leave the country because of them. When he got in office he lowered those corporate taxex and started to bring manufacturing back and caused a booming economy that for once reached doen the working man, many of thos poor blacks.
As if Trump ever needed to launch a clothing line anyway.
Bottom line. He could have hired Americans....he hired Chinese folks. He is no friend to America or it's textile workers.
No one is going to do that. No one is going to hire US labor, if the cost is too high, and you don't know the numbers on that. You are making an assumption.
Which again, is why Trump was trying to change the system to make hiring US labor more profitable. But that means not being greed and envy motivated, and trying to regulate and tax the crap out of US companies. Something left does not seem to have the mental capacity to understand.
American Apparel made products in Downtown Los Angeles while Trump was having stuff made in China.
American Apparel
Discover American Apparel Wholesale t-shirts and other blank American Apparel for your iconic premium basics with innovative fabrics, sweatshop free styles.
As always, your post is crap.
What are you smoking? Do you know anything at all about American Apparel?
American Apparel has filed for bankruptcy in the US
American Apparel had not made a profit since 2009
American Apparel had not made a profit since 2009.The retailer said the restructuring will slash debt by $165 million (£108.4 million) to $135 million by eliminating $200 million in bonds in return for equity in the revamped company.
American Apparel starts laying off 2,400 workers in Southern California
American Apparel began to lay off 2,400 workers in Southern California on Monday — kicking off its final chapter as the country’s largest garment maker.
Canadian clothing maker Gildan Activewear won an auction in bankruptcy court last week to buy the American Apparel brand and some manufacturing equipment for $88 million. The company will not assume American Apparel’s leases on its factories.
The new American Apparel: claims of 'ethically made' abroad clash with reality
The company was sold to Gildan and moved operations outside the US – now the idea the brand was based upon clashes with what workers actually experience
Under a page headlined “Sweatshop Free Stories” on American Apparel’s website is a video profile of a young Honduran man, Heber Lopez, a garment worker at one of the factories in San Antonio, Honduras responsible for producing the retailer’s clothing.
Candy.... That post you made, explains to me how left-wing politicians are able to dupe so many non-thinking lemmings into doing whatever they say.
You just posted a link to American Apparel, claiming they made clothing in downtown LA.
The reality is, American Apparel lost money for years on end, went bankrupt, sold off all their American factories, and all their clothing is made in Honduras and Nicaragua.
But you read a internet post, or the companies web site, that said "Ethical Sweatshop free".
Right? You just bought that, without thinking, without questioning?
You know those Trumpers that believed the election was stolen because Trump said so, without thinking, without questioning? You are no better. You are just like them. You just proved it, with that post.
Trump has filed for bankruptcy 6 times and you're in love with him....so this should make AA pretty attractive to you.
The bottom line is that Trump could have hired Americans...he hired Chinese people instead. He is no friend to the American worker.
Wow! Six times? Like a whole six? Out of how many businesses?
You realize that most successful people have gone broke, right?
Walt Disney went bankrupt.
Hersey went bankrupt.
Heinz went bankrupt.
Most successful people go bankrupt before they make it big. Not all, but most.
Trump has over 500 different businesses that he is engaged in. A total of 6, have gone bankrupt.
And even of those businesses that went bankrupt, I believe 3 of them were part of the fall of Atlantic City, where all the Casinos in that area failed, not just Trumps. Indicating that there was a change in the market, not the result of bad management.
People that complain about others who go bankrupt, are often just people who have never run a business in their whole life.
That's just a fallacy.Cancel our debt to China as partial payment for the pandemic.
Right.... Um... Ok. Quick math. So as of July 2020, China had roughly $1 Trillion in US bonds.
The US national debt is $28 Trillion.
So, not going to solve our problem, is it?
Further, I learned back when I first moved out, that it didn't matter if I paid off a debt, if I was living in a way that racked up debt.
The only way to not have a debt problem, is to live on less than you make in income. Spend less... than you collect in income.
Similarly, as long as the US public wants to spend more than the government can collect in revenue, canceling debt will cause tons of problems, and we'll end up in debt anyway.
We need to cut spending. Cut welfare, unemployment, SNAP, housing, cut education, cut all entitlements.
If we don't do that, it doesn't matter if you cancel debt. You keep spending more than you collect, you end up with debt. That's how it works.
Lastly, the bond market is critical to borrowing money. The only reason anyone, anywhere, is willing to buy US bonds, is because they believe the US government will pay back the loan.
You cancel those bonds, and everyone everywhere in the world, will stop buying US bonds. They are not going to distinguish US bonds, from other US bonds, because they are all US bonds.
It would be like you and your neighbor both buying a health insurance policy with the same company. You find out the following week, that your neighbor got sick, and the company just decided to not honor the policy. Are you going to keep your policy with that company? Well yeah, that was him, not you... so you are safe? No, you would cancel that policy and buy from someone else.
Same thing in with bonds. No one is going to buy those bonds knowing we won't pay, if we decide to blame you for a virus.
If we can't borrow money, then Social Security or Medicare will be cut dramatically in a month.
Or... we would have to get an international bailout. Do you want to get bailed out by Europe? Because that's what happened with Greece. They went bankrupt, needed an international bailout, and suddenly you had people all over the EU, dictating Greek public policy. You want Europe or others dictating US policy, because we have to have a bailout, because we defaulted on our bonds like Greece did?
Very bad idea. Very bad. Your idea might well actually cause civil war, and a break up of the United States.
A Liberal, a conservative and an CEO walk into a room. The CEO puts 10 dollars on the table. The conservative takes 9 and gives the CEO 4 dollars back for a "political contribution" He pockets the remaining $5 telling while telling the African-American as they pick up the last dollar, "you can put the CEO's golf clubs in his truck now".
The conservative would not take $9. They would earn it. So the rest of what you said doesn't even make sense.
Conservatives, by definition, believe in value of work. It's based on the protestant work ethic.
Protestant work ethic - Wikipedia
A conservative that believes in taking what others earned.... just simply isn't a conservative.
That would be like saying "A Vegan and a Cattle rancher walk into the room. The cattle rancher puts down a hamburger and the vegan eats it and says...." If the Vegan eats the hamburger, they are not a vegan.
Similarly, if the conservative takes someone else's money... they are not conservatives. If they earn the money, or if they sell you something for the money, then you might have a point. But conservatives don't take your money. Left-wingers do. Socialists do. Government does. But not conservatives. Doesn't happen.
I'm pretty sure the family that ran Purdue Pharma were conservatives.
The two failed US senators in GA used their senate committee positions to trade stocks BEFORE information was available to the public. Both conservatives...
Cancel our debt to China as partial payment for the pandemic.
Right.... Um... Ok. Quick math. So as of July 2020, China had roughly $1 Trillion in US bonds.
The US national debt is $28 Trillion.
So, not going to solve our problem, is it?
Further, I learned back when I first moved out, that it didn't matter if I paid off a debt, if I was living in a way that racked up debt.
The only way to not have a debt problem, is to live on less than you make in income. Spend less... than you collect in income.
Similarly, as long as the US public wants to spend more than the government can collect in revenue, canceling debt will cause tons of problems, and we'll end up in debt anyway.
We need to cut spending. Cut welfare, unemployment, SNAP, housing, cut education, cut all entitlements.
If we don't do that, it doesn't matter if you cancel debt. You keep spending more than you collect, you end up with debt. That's how it works.
Lastly, the bond market is critical to borrowing money. The only reason anyone, anywhere, is willing to buy US bonds, is because they believe the US government will pay back the loan.
You cancel those bonds, and everyone everywhere in the world, will stop buying US bonds. They are not going to distinguish US bonds, from other US bonds, because they are all US bonds.
It would be like you and your neighbor both buying a health insurance policy with the same company. You find out the following week, that your neighbor got sick, and the company just decided to not honor the policy. Are you going to keep your policy with that company? Well yeah, that was him, not you... so you are safe? No, you would cancel that policy and buy from someone else.
Same thing in with bonds. No one is going to buy those bonds knowing we won't pay, if we decide to blame you for a virus.
If we can't borrow money, then Social Security or Medicare will be cut dramatically in a month.
Or... we would have to get an international bailout. Do you want to get bailed out by Europe? Because that's what happened with Greece. They went bankrupt, needed an international bailout, and suddenly you had people all over the EU, dictating Greek public policy. You want Europe or others dictating US policy, because we have to have a bailout, because we defaulted on our bonds like Greece did?
Very bad idea. Very bad. Your idea might well actually cause civil war, and a break up of the United States.
A Liberal, a conservative and an CEO walk into a room. The CEO puts 10 dollars on the table. The conservative takes 9 and gives the CEO 4 dollars back for a "political contribution" He pockets the remaining $5 telling while telling the African-American as they pick up the last dollar, "you can put the CEO's golf clubs in his truck now".
The conservative would not take $9. They would earn it. So the rest of what you said doesn't even make sense.
Conservatives, by definition, believe in value of work. It's based on the protestant work ethic.
Protestant work ethic - Wikipedia
A conservative that believes in taking what others earned.... just simply isn't a conservative.
That would be like saying "A Vegan and a Cattle rancher walk into the room. The cattle rancher puts down a hamburger and the vegan eats it and says...." If the Vegan eats the hamburger, they are not a vegan.
Similarly, if the conservative takes someone else's money... they are not conservatives. If they earn the money, or if they sell you something for the money, then you might have a point. But conservatives don't take your money. Left-wingers do. Socialists do. Government does. But not conservatives. Doesn't happen.
Did the farmers give back their billions in subsidies and bailout monies? Or is Iowa, Kansas and Nebraska full of flaming liberals?
www.reuters.com
Cancel our debt to China as partial payment for the pandemic.
Right.... Um... Ok. Quick math. So as of July 2020, China had roughly $1 Trillion in US bonds.
The US national debt is $28 Trillion.
So, not going to solve our problem, is it?
Further, I learned back when I first moved out, that it didn't matter if I paid off a debt, if I was living in a way that racked up debt.
The only way to not have a debt problem, is to live on less than you make in income. Spend less... than you collect in income.
Similarly, as long as the US public wants to spend more than the government can collect in revenue, canceling debt will cause tons of problems, and we'll end up in debt anyway.
We need to cut spending. Cut welfare, unemployment, SNAP, housing, cut education, cut all entitlements.
If we don't do that, it doesn't matter if you cancel debt. You keep spending more than you collect, you end up with debt. That's how it works.
Lastly, the bond market is critical to borrowing money. The only reason anyone, anywhere, is willing to buy US bonds, is because they believe the US government will pay back the loan.
You cancel those bonds, and everyone everywhere in the world, will stop buying US bonds. They are not going to distinguish US bonds, from other US bonds, because they are all US bonds.
It would be like you and your neighbor both buying a health insurance policy with the same company. You find out the following week, that your neighbor got sick, and the company just decided to not honor the policy. Are you going to keep your policy with that company? Well yeah, that was him, not you... so you are safe? No, you would cancel that policy and buy from someone else.
Same thing in with bonds. No one is going to buy those bonds knowing we won't pay, if we decide to blame you for a virus.
If we can't borrow money, then Social Security or Medicare will be cut dramatically in a month.
Or... we would have to get an international bailout. Do you want to get bailed out by Europe? Because that's what happened with Greece. They went bankrupt, needed an international bailout, and suddenly you had people all over the EU, dictating Greek public policy. You want Europe or others dictating US policy, because we have to have a bailout, because we defaulted on our bonds like Greece did?
Very bad idea. Very bad. Your idea might well actually cause civil war, and a break up of the United States.
A Liberal, a conservative and an CEO walk into a room. The CEO puts 10 dollars on the table. The conservative takes 9 and gives the CEO 4 dollars back for a "political contribution" He pockets the remaining $5 telling while telling the African-American as they pick up the last dollar, "you can put the CEO's golf clubs in his truck now".
The conservative would not take $9. They would earn it. So the rest of what you said doesn't even make sense.
Conservatives, by definition, believe in value of work. It's based on the protestant work ethic.
Protestant work ethic - Wikipedia
A conservative that believes in taking what others earned.... just simply isn't a conservative.
That would be like saying "A Vegan and a Cattle rancher walk into the room. The cattle rancher puts down a hamburger and the vegan eats it and says...." If the Vegan eats the hamburger, they are not a vegan.
Similarly, if the conservative takes someone else's money... they are not conservatives. If they earn the money, or if they sell you something for the money, then you might have a point. But conservatives don't take your money. Left-wingers do. Socialists do. Government does. But not conservatives. Doesn't happen.
Did the farmers give back their billions in subsidies and bailout monies? Or is Iowa, Kansas and Nebraska full of flaming liberals?
No, of course not. If you are stupid enough to give me your money, I'll take every dollar you are dumb enough to give me. Absolutely.
However from policy perspective, conservatives are against government subsidies of any kind.
But if your side wins the day, and offers for example, universal income benefits.... yeah I'll take your tax money. I'll vote against the policy until the day I die... but if you pass that socialist policy, I will quit my job, and soak you for every dollar I can get. You give me your cash, that's on you, not me.
But to the point, I've said this for years, that we should have no farm subsidies at all. That's one of the reasons conservatives opposed the Farm bill under Bush. And we opposed it under Trump.
Republicans Fume at Trump's $12 Billion Plan to Aid Farmers
"They want trade, not aid. It’s really just that simple"time.com
“My thoughts are the thoughts of farmers. They want trade, not aid. It’s really just that simple,” said Senator Ron Johnson, a Republican from Wisconsin.
That right there.... Ron Johnson's position, is the conservative position.
Go back to 2008.
Conservative Republicans offer bailout alternative
A group of conservative Republicans in the U.S. House of Representatives offered a mortgage insurance plan on Thursday as an alternative to the Bush administration's $700-billion Wall Street bailout.
A group of conservative Republicans in the U.S. House of Representatives offered a mortgage insurance plan on Thursday as an alternative to the Bush administration’s $700-billion Wall Street bailout.
That right there, the private insurance model, as opposed to the tax payer funded bailout.... that is the conservative position.
We've been very consistent on this.
That’s why we elected Democrats. I can’t wait for their balanced budget proposal.Maybe we could just be more fiscally responsible.
Doubtful, after what Trump has done. Too far to go.That’s why we elected Democrats. I can’t wait for their balanced budget proposal.Maybe we could just be more fiscally responsible.
Doubtful, after what Trump has done. Too far to go.That’s why we elected Democrats. I can’t wait for their balanced budget proposal.Maybe we could just be more fiscally responsible.
That is the business envirnoment that corporate taxes, their holeholes and related lobbying created. Trump dropped corporate taxes ( which are always paid by the consumer) and manufacturing began to come back. Will Biden keep those taxes low? Poor people unemployment is driven by a lack of manufacturing so if he really cares there is only one choice. As for the bankrupcies, the rich and connected need to pass laws to make that kind of thing more difficult. That is super rich going bankrupt while their other business ventures are untouched.You don't know that. He could have hired Americans, and had it be so expensive, that he lost money.LOL...He probably did that because he was a businessman and high corporate taxes ( paid always bu consumers) It's not like high corporate taxes cause Fortune 500 CEA's to drive Chevy's or their kids to have to wait in the long line at Amusement parks. No the consumer pays them. But businesses do leave the country because of them. When he got in office he lowered those corporate taxex and started to bring manufacturing back and caused a booming economy that for once reached doen the working man, many of thos poor blacks.
As if Trump ever needed to launch a clothing line anyway.
Bottom line. He could have hired Americans....he hired Chinese folks. He is no friend to America or it's textile workers.
No one is going to do that. No one is going to hire US labor, if the cost is too high, and you don't know the numbers on that. You are making an assumption.
Which again, is why Trump was trying to change the system to make hiring US labor more profitable. But that means not being greed and envy motivated, and trying to regulate and tax the crap out of US companies. Something left does not seem to have the mental capacity to understand.
American Apparel made products in Downtown Los Angeles while Trump was having stuff made in China.
American Apparel
Discover American Apparel Wholesale t-shirts and other blank American Apparel for your iconic premium basics with innovative fabrics, sweatshop free styles.
As always, your post is crap.
What are you smoking? Do you know anything at all about American Apparel?
American Apparel has filed for bankruptcy in the US
American Apparel had not made a profit since 2009
American Apparel had not made a profit since 2009.The retailer said the restructuring will slash debt by $165 million (£108.4 million) to $135 million by eliminating $200 million in bonds in return for equity in the revamped company.
American Apparel starts laying off 2,400 workers in Southern California
American Apparel began to lay off 2,400 workers in Southern California on Monday — kicking off its final chapter as the country’s largest garment maker.
Canadian clothing maker Gildan Activewear won an auction in bankruptcy court last week to buy the American Apparel brand and some manufacturing equipment for $88 million. The company will not assume American Apparel’s leases on its factories.
The new American Apparel: claims of 'ethically made' abroad clash with reality
The company was sold to Gildan and moved operations outside the US – now the idea the brand was based upon clashes with what workers actually experience
Under a page headlined “Sweatshop Free Stories” on American Apparel’s website is a video profile of a young Honduran man, Heber Lopez, a garment worker at one of the factories in San Antonio, Honduras responsible for producing the retailer’s clothing.
Candy.... That post you made, explains to me how left-wing politicians are able to dupe so many non-thinking lemmings into doing whatever they say.
You just posted a link to American Apparel, claiming they made clothing in downtown LA.
The reality is, American Apparel lost money for years on end, went bankrupt, sold off all their American factories, and all their clothing is made in Honduras and Nicaragua.
But you read a internet post, or the companies web site, that said "Ethical Sweatshop free".
Right? You just bought that, without thinking, without questioning?
You know those Trumpers that believed the election was stolen because Trump said so, without thinking, without questioning? You are no better. You are just like them. You just proved it, with that post.
Trump has filed for bankruptcy 6 times and you're in love with him....so this should make AA pretty attractive to you.
The bottom line is that Trump could have hired Americans...he hired Chinese people instead. He is no friend to the American worker.
If ALL of the corporate taxes were paid by the consumer the corporations wouldn`t be constantly whining about them would they?Manufacturing has been coming back since 2013 when fracking lowered production costs here while the cost of energy rose 138% in China. Corporate tax rates have loopholes you can drive an Amtrak engine through.That is the business envirnoment that corporate taxes, their holeholes and related lobbying created. Trump dropped corporate taxes ( which are always paid by the consumer) and manufacturing began to come back. Will Biden keep those taxes low? Poor people unemployment is driven by a lack of manufacturing so if he really cares there is only one choice. As for the bankrupcies, the rich and connected need to pass laws to make that kind of thing more difficult. That is super rich going bankrupt while their other business ventures are untouched.You don't know that. He could have hired Americans, and had it be so expensive, that he lost money.LOL...He probably did that because he was a businessman and high corporate taxes ( paid always bu consumers) It's not like high corporate taxes cause Fortune 500 CEA's to drive Chevy's or their kids to have to wait in the long line at Amusement parks. No the consumer pays them. But businesses do leave the country because of them. When he got in office he lowered those corporate taxex and started to bring manufacturing back and caused a booming economy that for once reached doen the working man, many of thos poor blacks.
As if Trump ever needed to launch a clothing line anyway.
Bottom line. He could have hired Americans....he hired Chinese folks. He is no friend to America or it's textile workers.
No one is going to do that. No one is going to hire US labor, if the cost is too high, and you don't know the numbers on that. You are making an assumption.
Which again, is why Trump was trying to change the system to make hiring US labor more profitable. But that means not being greed and envy motivated, and trying to regulate and tax the crap out of US companies. Something left does not seem to have the mental capacity to understand.
American Apparel made products in Downtown Los Angeles while Trump was having stuff made in China.
American Apparel
Discover American Apparel Wholesale t-shirts and other blank American Apparel for your iconic premium basics with innovative fabrics, sweatshop free styles.
As always, your post is crap.
What are you smoking? Do you know anything at all about American Apparel?
American Apparel has filed for bankruptcy in the US
American Apparel had not made a profit since 2009
American Apparel had not made a profit since 2009.The retailer said the restructuring will slash debt by $165 million (£108.4 million) to $135 million by eliminating $200 million in bonds in return for equity in the revamped company.
American Apparel starts laying off 2,400 workers in Southern California
American Apparel began to lay off 2,400 workers in Southern California on Monday — kicking off its final chapter as the country’s largest garment maker.
Canadian clothing maker Gildan Activewear won an auction in bankruptcy court last week to buy the American Apparel brand and some manufacturing equipment for $88 million. The company will not assume American Apparel’s leases on its factories.
The new American Apparel: claims of 'ethically made' abroad clash with reality
The company was sold to Gildan and moved operations outside the US – now the idea the brand was based upon clashes with what workers actually experience
Under a page headlined “Sweatshop Free Stories” on American Apparel’s website is a video profile of a young Honduran man, Heber Lopez, a garment worker at one of the factories in San Antonio, Honduras responsible for producing the retailer’s clothing.
Candy.... That post you made, explains to me how left-wing politicians are able to dupe so many non-thinking lemmings into doing whatever they say.
You just posted a link to American Apparel, claiming they made clothing in downtown LA.
The reality is, American Apparel lost money for years on end, went bankrupt, sold off all their American factories, and all their clothing is made in Honduras and Nicaragua.
But you read a internet post, or the companies web site, that said "Ethical Sweatshop free".
Right? You just bought that, without thinking, without questioning?
You know those Trumpers that believed the election was stolen because Trump said so, without thinking, without questioning? You are no better. You are just like them. You just proved it, with that post.
Trump has filed for bankruptcy 6 times and you're in love with him....so this should make AA pretty attractive to you.
The bottom line is that Trump could have hired Americans...he hired Chinese people instead. He is no friend to the American worker.
After WWII, we had tax brackets in the 90% range.A bit of both, cut spending and raise income.
The debt is still lower than what it was just after WWII, I think.
